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Alphabet Overtakes Apple in Market Value for First Time Since 2019

A sustained rally tied to Gemini upgrades alongside enterprise cloud wins shifted investor expectations toward Alphabet.

Overview

  • Alphabet ended Wednesday at about $3.88 trillion after a gain of more than 2%, edging Apple at roughly $3.84 trillion following a five‑day slide of over 4%.
  • By Thursday, Alphabet rose to about $3.92 trillion versus Apple near $3.80 trillion, with Nvidia leading at roughly $4.49 trillion, according to Bloomberg reporting.
  • Alphabet shares climbed about 65% in 2025 on AI momentum from launches such as Gemini 3, Veo 3, and viral image‑generation features.
  • Sundar Pichai said in October that Google Cloud signed more deals over $1 billion through the third quarter of 2025 than in the prior two years combined.
  • Reports highlight Google’s Ironwood TPU and a Meta customer win as alternatives to Nvidia’s GPUs, while Apple faces questions after delaying a more capable Siri to 2026 and receiving a rating cut from Raymond James.